This is John Bachelor, conversation with Michael Bernst on my colleague, he's at the Hoover Institution,

about how Russia is managing to take in euros and dollars.

There's a shortage in Russia Russia and they're concerned about a

run on banks. So Michael explains how they're selling gold for dollars and euros.

What is wonderful here is suitcases of cash.

Sucases. Michael asked me at one point, do you know how much $1 billion is in a

suitcase, the biggest denominations in euros are 500 the biggest in dollars are 100.

How many suitcases you need? How heavy they are?

Here's Michael Berenstom to explain how Russia's how for the people who need it the citizens after more than two and a half years of

sanctions more of this tonight thank you the Russian

ostensibly it is a flight by night, new Russian private company which is making these

transactions. I suspect I have no evidence that it is just a front for the Russian government because they need

they need cash they need dollars and euros because the Russian citizens

households are saving money in dollars and euros and the government wants to prevent a land

and banks because banks are now short of dollars, short of euros and now they're short of

a minbee.